Wednesday | 16th January 2019

Everyday is a Potential Payday if you Master the Art of Trading - Daniel Ang

Good Day all my beloved students & steemians. Inside this daily commentary I will share the short-term technical outlook and trade ideas for Bitcoin, Ethereum and Litecoin.

Previous commentary refer here: http://bit.ly/btcethltc150119

My core strategies refer here: http://bit.ly/taicorestrategies

WARNING

Do not attempt to use any of the trade ideas contained within unless you have attended my classes and understood the risk and money management behind these ideas.

Full Disclaimer refer here: http://bit.ly/tai-disclaimer

Want to own Bitcoin rather than ETF trading, check the two link below:

Honey Miner : https://honeyminer.com/referred/59hvc

CryptoTab : https://get.cryptobrowser.site/2402149

You can also follow my FITS:

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Twitter - http://bit.ly/danielang_twitter

Steemit - http://bit.ly/danielang_steemit

BTC/USD

24-hours after Monday’s sharp surge, BTC is back to where it started. This latest development could possibly delay the resumption of the rise from $3113.80 slighty over a month ago.

If there is no further decay in price and last weekend low at $3472.00 is not taken out, BTC could continue its ascent.

As mentioned, the immediate barrier is the supply zone at $3762.72 - $3872.13 (see hourly chart). Clearance above this area should pave the way for an assault on the projected target $5260.50 or more likely towards $5495.76 - $5636.63 (see 4-hour chart).

TRADE IDEAS

ETH/USD

Like BTC, ETH too gave back all its gains since Monday’s sharp rally to $130.65. Still, the possibility BTC may have hit a bottom at $112.94 remains intact.

Barring another sharp decline, it is possible ETH is in the cusp of a sustainable rally with the immediate barrier located at 130.40 - $132.51 (see hourly chart).

The next significant barrier is probably the supply zone at $148.49 - $150.62 in the hourly time frame; which coincides with a supply zone at $148.51 - $151.98 in the 4-hourly time frame.